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Make Me Smart

Where are the GOP's free market diehards?

Make Me Smart

Marketplace

News, Business

4.65.4K Ratings

🗓️ 19 May 2025

⏱️ 13 minutes

🧾️ Download transcript

Summary

Walmart had said it would raise prices in response to tariffs. Then, it got a call from the White House. Now, the retailer says it will swallow some of the costs. This has us wondering: where have all the free market diehards gone? Plus, Kimberly reflects on the tornadoes that hit her hometown of St. Louis, Missouri and explains FEMA’s plan to shift disaster costs to the states. Also? Did the GOP really name their reconciliation bill the “One Big Beautiful Bill?”


Here’s everything we talked about today:




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Transcript

Click on a timestamp to play from that location

0:00.0

Hey everybody, I'm Kai Rizdal. Welcome back to Make Me Smart, where we make today make sense.

0:11.4

And I'm Kimberly Adams. Thank you for joining us on this Monday, May the 19th. Today we're going to do some news and some smiles, starting with the news. Kai, what caught your eye?

0:21.0

So, I guess this is categorized under the heading of irony is dead.

0:29.6

So Walmart came out last week and said, you know what, because of these tariffs, we're going to have to raise our prices and we're going to have to raise them like by the end of the month. And it was either with somebody on the show staff here at the

0:42.4

office or with my wife that afternoon, I said, as soon as Trump is back from his overseas trip,

0:47.2

he's going to go after Walmart. And bang, he gets back from his overseas trip and starts

0:51.7

tweeting about Walmart and how they're going to have to eat the tariffs and it's terrible on how dare they raise prices and this and that.

0:57.1

And then Scott Besson, the Treasury Secretary, goes on the Sunday shows and says, I am going to and have been speaking with the CEO of Walmart and they are going to, quote, absorb some tariffs.

1:09.6

So the reason irony is dead is because I thought that the Republican Party was the party

1:16.4

of free markets and getting government out of the economy.

1:20.7

And here we have the president of the United States and the Secretary of the Treasury

1:24.2

strong-arming a corporation into adjusting its pricing policy.

1:30.9

And I don't – are we on Earth, too, here? What's going on?

1:35.9

You know what will be fascinating, given that Jeff Bezos has, you know, made the Washington Post opinion pages be more focused on free markets.

1:47.1

Yeah.

1:48.0

Yeah.

1:48.1

What these new revamped opinion pages will have to say about this.

1:53.2

And I don't know if you saw that, you know, I'm still paying attention to this big reconciliation package that Caroline Lovett, the White House

2:02.2

Press Secretary, said out loud that it's not going to add to the deficit.

2:05.6

Oh, I know.

2:06.0

The press secretary's lying to you.

2:07.6

She's literally lying from the poni.

...

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