Steve Schmidt: The Real Cost of Trump’s Political Machine
The Warning with Steve Schmidt
iHeartPodcasts
4.6 • 1.1K Ratings
🗓️ 15 May 2026
⏱️ 10 minutes
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Summary
Donald Trump’s proposed $1.7 billion slush fund deal with the IRS, at taxpayers' expense, for January 6 defendants and questions around Jared Kushner’s foreign dealings reinforce the never-before-seen in American history corruption. Steve Schmidt breaks down the allegations, arguing they reflect broader abuse of power and personal enrichment during Trump’s presidency.
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Transcript
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| 0:00.0 | This is an I-Heart podcast. |
| 0:02.3 | Guaranteed Human. |
| 0:04.4 | Senator Elizabeth Warren has called Donald Trump's proposal to establish a $1.7 billion |
| 0:11.4 | taxpayer slush fund for the purposes of paying off January 6th insurrectionists an insane level of corruption. What exactly is an insane level of corruption |
| 0:25.6 | in the Trump era? Let's discuss it. It's Friday, May the 15th. I'm Steve Schmidt. This is the |
| 0:33.5 | warning. A few years back, it was reported frequently. |
| 0:38.3 | There was no person in the entire Trump administration who had more interest in classified |
| 0:44.3 | information than the person who couldn't get a classification clearance because of his corruptions. I'm talking, of course, about Jared Kushner. |
| 0:56.7 | Jared has no investment experience whatsoever. |
| 1:01.2 | And every single professional advisor around the Saudi sovereign wealth fund said no to the ludicrous proposal by Jared Kushner for |
| 1:13.5 | $2 billion of investment. The only investment experience he had was buying a building in Manhattan, |
| 1:21.7 | 666 Fifth Avenue, for those of you interested in Peter Thiel's exploration for the Antichrist. |
| 1:30.7 | At any rate, Jared was bailed out in the first term by a corrupt deal involving the Qataris, |
| 1:38.6 | who've now gifted Trump a plane that is so large, a $170 million hanger will have to be built for it at Joint Base |
| 1:48.9 | Andrews. Everywhere there is corruption. Here's Donald Trump talking about his ballroom. |
| 1:56.1 | So what happened is we have a ballroom that's under budget. It's going up right here. I've doubled the size of it |
| 2:03.2 | because we obviously need that. And we're right now on budget, under budget, and ahead of schedule. |
| 2:08.9 | I double the size of it, you dumb person. It's double the size of it, you dumb person. Now it's the |
| 2:17.2 | American taxpayer who will be on the hook, not for 300 million, not even for |
| 2:22.9 | 800 million, but for a billion dollars. Here's how ABC News describes the corrupt Trump proposal |
| 2:31.1 | that Elizabeth Warren described as an insane level of corruption. |
| 2:37.0 | Have a seat when you listen to it. |
... |
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