4.2 • 7.1K Ratings
🗓️ 23 July 2025
⏱️ 50 minutes
🧾️ Download transcript
(0:00) Scott Bessent, Treasury Secretary
(17:44) Doug Burgum, Secretary of the Interior and Chris Wright, Energy Secretary
(35:11) Howard Lutnick, Commerce Secretary
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0:00.0 | Secretary Besson, it's wonderful to see you. |
0:04.0 | Before we maybe deep dive into AI, do you want to give us the high-level update on the 333 plan? |
0:12.0 | How are things going? |
0:14.0 | You had an incredible clip, by the way, with Maria Bartoromo, where you talked about some of the things that were happening economically. |
0:20.0 | Maybe just level set everybody on what's going on. So just for good framing, during the campaign, I'd a |
0:26.7 | 333 plan. I think it's microphones off. Can we get the microphone on for Scott? Test test? |
0:32.7 | Test? There it is. Okay. Good. So I had a plan that I called 333, and the idea was to get the budget deficit, which was running about 6.7% of GDP under the Biden administration. |
0:48.5 | Highest that we'd ever had when we weren't at war or in a recession down to 3%, |
0:55.1 | 3 plus percent economic growth on a persistent basis, |
0:59.6 | and to create 3 million more barrels of energy equivalent, |
1:04.2 | so oil and gas before President Trump leaves office. And look, we're full speed ahead. |
1:14.6 | We had the first June was the first positive June for the Treasury since 2015. |
1:22.6 | We actually had a surplus. |
1:24.6 | And we did that in a good way. |
1:29.3 | We took in more revenues, some from tariffs, and we brought down spending. |
1:35.3 | And when I think about what we can do here, that what I'm really excited about is the idea, with know, with AI, that we can go back to the paradigm. |
1:49.0 | When I was younger in the 90s, Alan Greenspan was able to run the economy very hot in the 90s. |
1:57.0 | And because, you know, it was the the IT boom and we had this very powerful non-inflationary growth |
2:08.4 | and I think that it's highly likely we could have that now and so that kind of growth would bring down the deficit very quickly. |
2:21.7 | There's been a lot of talk today about the amount of CAPEX spending that needs to go into AI |
2:27.2 | and all of the jobs that it creates. And you posted as well, actually, a couple of days ago, |
2:32.8 | and you talked about that there's just been an |
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