President Trump’s “Big, Beautiful Bill” has passed the House of Representatives. But is it a “big win” for America, or does it not cut enough spending? Glenn Beck and Stu Burguiere run through the best and worst parts of the bill and predict how the final version might affect you.
Transcript
Below is a rush transcript that may contain errors
GLENN: But they passed the big, beautiful bill last night. I haven't a chance to ask you -- actually, this morning about 6 o'clock. What's your take on the big, beautiful bill, Stu?
STU: It's interesting. There is a lot of good in it.
It is gigantic. So there's also a lot of bad in it.
It's not a -- I don't think it's a massive win in a lot of ways. Especially because one of the biggest things it accomplishes, is essentially reinstating Trump's 2017 tax cut. That expiring would have been horrible for the economy.
So it is a big win. But in a way, to us. Because it's just continuing current policy.
I don't think it's going to feel like that.
Looking at the way it broke down. We're looking at the different groups that -- it's interesting. We talked about the precise thing.
You can either go in there, and say, hey. Here's a little giveaway to you. Here's a little giveaway to you. Here's the thing that you want.
And try to make all of these groups come along. But that's difficult.
Because each group has competing interests at times. And the other approach, is Trump can come in and say, do it.
And --
GLENN: Beat everybody bloody.
STU: Yes, and that's exactly what happened.
He said, it would be the ultimate betrayal, if people voted against it.
When he said that, along with a bunch of the giveaways and different amendments they did at the end. Wound up getting it across the finished line, with I believe only two Republican no votes. And I believe also two present votes.
KELSEY: So here's what I -- here's one thing I want to point out.
There is $1.7 trillion in cuts there. But it's not real.
GLENN: Yeah.
KELSEY: You know, when they pass this, it doesn't mean those cuts go in. They now. I don't understand the procedure.
But they now have to go back. And Congress needs to go, okay. We're activating the cuts.
So there's another step to that. So it's in the bill, if Congress will do it. That's really good.
One seventh in cuts, will be great.
It's still anywhere between three to $5 trillion, over the next, what? Ten years in debt.
I think they said.
And, you know, that's not good.
And I think that's why our treasury bills had a very bad day.
Selling. Hey. Who wants to buy our debt?
Everybody is like -- I don't hear anybody.
There's nobody in this room, is there?
Nobody wanted to buy them. That's going to be very, very bad.
How I interpret all of this. The clock is on.
Donald Trump knows. His theory is, grow your way out of the debt. I believe, grow and cut your way out of the debt.
But his point here is, you can't grow your way out of the debt. Because -- you can't cut your way out of the debt. You have to grow your way. But if you're cutting, the government is so intertwined with everything right now, they've -- they've given so much money. To everything.
That it's -- you know, what is it now?
Like 35 percent. Or 40 percent of our economy is the government?
And so he's like, if you cut that too drastically, too fast. You will cut growth. You have job reports. That are bad, et cetera, et cetera.
He is trying to spur on entrepreneurial spirit.
Because that's the ones who actually create jobs. Are the entrepreneurs. In bad times.
80 percent of jobs come from small businesses.
So now we have to see them putting the pedal to the metal to cut the regulation, especially for small business owners.
So these small business owners, can get to work. They have the tax cut now.
Give them the regulation relief.
And that would be -- that would be tremendous.
But a clock started this morning.
When they passed this bill, and I guess it has to go to the Senate, right?
But they're expecting it to pass today or tomorrow, right?
STU: I don't know. The Senate again is definitely going to change a bunch of stuff.
And it will have to come back together with the House.
There's a long road here.
They may get it across. The Senate is a little more resistant to Trump saying, hey. Just do this.
Than the house is.
You would think. They're going to get something across the finished line eventually.
That's what it looks like.
GLENN: They're really pushing.
And hats off to Congress, this week.
They could have done it long ago, but hats off to Congress. They are saying they want to finish it by this weekend, and that will be important for the country.
But once -- the clock is already starting.
Because it looks like it will pass this budget, which adds to our debt. And that's just going to start the clock. You know, it's a race to the finish.
Is the dollar going to lose value, and is our debt going to keep going up at such a rate so that nobody wants to buy our bonds anymore. And we can't finance.
And we're paying out of control interest rates.
Or is that happening, and we're balancing it out?
Because the entrepreneur and the small businessman is growing at such a rate of speed.
That the economy is producing more taxpayers.
But that is -- boy, I've never seen anything this close to the edge.
It's a little terrifying.
STU: Yeah. And there's a lot of things in there. Look, we wouldn't like.
You know, a good chunk of the Inflation Reduction Act, green new deal style.
GLENN: Yeah.
STU: Is just in there. I know.
But, you know, this is just -- what I guess they feel like they have to do.
As we said, it is difficult to get things over the finished line with these small majorities.
And you had some -- some Republicans that didn't like the bill. Just not show up at all.
Some of them just voted present.
A couple of them knows -- I know is one of them.
There's massive problems with the bill.
But, you know, again, Donald Trump wanted a deal.
And this is kind of what he goes after.
I don't think he cares about every individual part of this.
He wants to give the big stuff over the finished line.
And I think that's where he is.
GLENN: I want to talk about something else.
And I think we disagree on this.
There's a new report out, that shows that members. I think of the NIH.
Hid and then -- and then tried to cover up the fact that they knew, that there were real bad side effects to the vaccines.
And this is now documents have been produced. That show, they knew in advance. And they covered it up.
And I personally think, these people are going to jail.
I think the DOJ is going to prosecute them. I think you're going to see. I think you're going to see handcuffs on COVID.
In the next couple of weeks.
But you don't agree with that, do you?
STU: I will be surprised. Maybe there could be some.
It's not impossible.
I haven't seen every single allegation against every single person. I will be surprised though, if the Trump DOJ will go, you know, after, you know, again, this is the vaccine that was Trump bragged about as one of his central accomplishments of his first term.
So I don't know that he's going to see the results the same way. Now, if you have somebody -- we've seen some people lying.
GLENN: Yeah. We're talking about cover-up.
STU: Yeah. But inside of that cover-up, is the -- the -- the view.
That the vaccine is incredibly dangerous to people.
Which it does not seem to be a position that Donald Trump holds.
Now, of course, in theory, he's not micromanaging every single thing that the DOJ does.
But I do think they also have a sense as to what his views are on a lot of these matters. We'll see. You might be right on it. I wouldn't be completely shocked. There certainly are people in and around this apparatus, that have done things.
We have seen emails, around Fauci, for example. But I think our absolutely blatant crimes, so some of this could happen. But I don't know.
If you're going to say, over under. Arrests. For -- for vaccines killing people, in the next few weeks.
Two and a half?
I would take the under.
GLENN: Okay. Let me -- there's a couple of other stories. We talked about the Israeli diplomats that were shot and killed from a guy from Chicago.
Who was literally a Marxist communist.
Radical that was, you know, free Palestine.
And that guy is in jail.
And he's going to be tried, I think in Washington, DC. Which do not make me feel real good. But there's also. And this is another huge story, I think. We now apparently have a whistle-blower, who is a very high -- this is a quote. High, high level Democrat party member. That is involved at the highest levels.
And he has come out or she has come out, as a whistle-blower on three people in the White House, that this whistle-blower says, was not only involved in hiding all of the conditions. But also, they were profiting off of the auto-pen.
If that is true, you're going to see handcuffs on that as well.
Which would be really good for the republic.
Really good.
And congratulations to the democratic operative, if you will.
The high-level Democrat.
Of course, they did say Suzanne Rice, they said -- the reporter said, is Suzanne Rice involved at all?
He's like, no. Definitely not Suzanne Rice. Definitely --
Which makes me think it was Suzanne Rice, that was like, wearing a mustache. No, definitely not Suzanne Rice. She was a great one.
But we will have to see where this goes. But I think those are two really big pieces that are really important, that show the direction of the DOJ and the FBI. You know, in a week where we -- we looked at the DOJ and the FBI at the beginning of the week, like, wait a minute.
Now you're starting to see some other things that say, well, wait, hold on.
Now, let's see them in handcuffs, but I think they're coming.