Scott
๐ค SpeakerAppearances Over Time
Podcast Appearances
Charlie, let's think about why President Trump won. He won because he said he was going to secure the border. He's done that. Also said he's going to focus on inflation. The only way we get inflation under control is to stop this wasteful spending. That's what he's doing right now. This is the only part of the budget he's ultimately going to put out.
But he's got a great team that's focused on how do we get rid of this wasteful spending. Now, think about it. He's done it with what Elon Musk is doing with Doge. He's been cutting spending, and I think they're going to continue to do that. They're finding ridiculous waste of money.
But he's got a great team that's focused on how do we get rid of this wasteful spending. Now, think about it. He's done it with what Elon Musk is doing with Doge. He's been cutting spending, and I think they're going to continue to do that. They're finding ridiculous waste of money.
But what he's done with his blueprint is to show there's so much waste, and he's going to do everything he can to get this budget balanced. Now, it's our job in the House and the Senate to work with the president โ to get the spending under control so we can get inflation under control and we can get interest rates down.
But what he's done with his blueprint is to show there's so much waste, and he's going to do everything he can to get this budget balanced. Now, it's our job in the House and the Senate to work with the president โ to get the spending under control so we can get inflation under control and we can get interest rates down.
So this is the beginning of controlling the spending, but we're going to do it through our budget process and through the reconciliation process.
So this is the beginning of controlling the spending, but we're going to do it through our budget process and through the reconciliation process.
Well, what the president wanted to do is actually balance the budget. He's got a short-term plan to balance the budget. So part of it is going to beโ It doesn't make any sense because your family doesn't do it this way. But we have things that are mandatory that we don't even review, like Medicare and Social Security and Medicaid.
Well, what the president wanted to do is actually balance the budget. He's got a short-term plan to balance the budget. So part of it is going to beโ It doesn't make any sense because your family doesn't do it this way. But we have things that are mandatory that we don't even review, like Medicare and Social Security and Medicaid.
And then we have discretionary things like defense spending and NPR, PBS, things like that, that we focus on every year. Now, what we should be doing is look at all parts of the budget. In the reconciliation process, we're going to be going through the mandatory parts of the budget.
And then we have discretionary things like defense spending and NPR, PBS, things like that, that we focus on every year. Now, what we should be doing is look at all parts of the budget. In the reconciliation process, we're going to be going through the mandatory parts of the budget.
And in the budget process, which we have to have done by September 30, we'll be going through the discretionary part. So as I talk to Russ Vogt, who runs the Office of Management and Budget for the president I'll be meeting with this week, their goal is to very quickly balance the budget. But they know they have to work with the House and the Senate.
And in the budget process, which we have to have done by September 30, we'll be going through the discretionary part. So as I talk to Russ Vogt, who runs the Office of Management and Budget for the president I'll be meeting with this week, their goal is to very quickly balance the budget. But they know they have to work with the House and the Senate.
So hopefully here's where we need to get down to. My opinion this year, we need to get down to about a $6.5 billion total spend. discretionary and mandatory. And that will get us down to hopefully less than a trillion dollar deficit with the goal that over three years, we balance the budget. Now, if it was me and it was President Trump, we'd balance the budget right now.
So hopefully here's where we need to get down to. My opinion this year, we need to get down to about a $6.5 billion total spend. discretionary and mandatory. And that will get us down to hopefully less than a trillion dollar deficit with the goal that over three years, we balance the budget. Now, if it was me and it was President Trump, we'd balance the budget right now.
We think we'll collect about $5.5 trillion. We'll see what he collects through the tariff process. But we think that we'll collect at least $5.5 trillion, so we need to get our spending down. Now, is that possible? Absolutely. We've seen a 53% increase in spending in five years and only a 2% increase in population. If we actually went back, all right,
We think we'll collect about $5.5 trillion. We'll see what he collects through the tariff process. But we think that we'll collect at least $5.5 trillion, so we need to get our spending down. Now, is that possible? Absolutely. We've seen a 53% increase in spending in five years and only a 2% increase in population. If we actually went back, all right,
and stopped growing the budget and just grew the budget, like let's say since Barack Obama left or since Bill Clinton left, just based on population and inflation, we would have a balanced budget right now. I mean, the Democrats have just thrown money like crazy and they've taken money and made it mandatory, which means we don't even review it every year.
and stopped growing the budget and just grew the budget, like let's say since Barack Obama left or since Bill Clinton left, just based on population and inflation, we would have a balanced budget right now. I mean, the Democrats have just thrown money like crazy and they've taken money and made it mandatory, which means we don't even review it every year.
So it's going to be a lot of work, but I know the president's committed to this. So hopefully we'll get down to less than a trillion dollar this year deficit and with a balanced budget within three years.